Ieq Capital LLC Invests $855,000 in The Marzetti Company $MZTI

Ieq Capital LLC acquired a new position in The Marzetti Company (NASDAQ:MZTI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,491 shares of the company’s stock, valued at approximately $855,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MZTI. Oregon Public Employees Retirement Fund lifted its holdings in Marzetti by 2.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 4,162 shares of the company’s stock worth $576,000 after buying an additional 100 shares during the period. State of Michigan Retirement System raised its position in shares of Marzetti by 2.1% during the first quarter. State of Michigan Retirement System now owns 4,932 shares of the company’s stock worth $682,000 after acquiring an additional 100 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of Marzetti in the fourth quarter worth approximately $32,000. Parkside Financial Bank & Trust acquired a new position in shares of Marzetti in the fourth quarter worth approximately $32,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Marzetti in the fourth quarter valued at approximately $33,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MZTI has been the subject of a number of recent analyst reports. Stephens reissued an “equal weight” rating and set a $140.00 target price on shares of Marzetti in a research report on Wednesday. Weiss Ratings restated a “sell (d+)” rating on shares of Marzetti in a research report on Monday, August 17th. Finally, DA Davidson reduced their price objective on shares of Marzetti from $168.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Marzetti presently has a consensus rating of “Reduce” and a consensus target price of $135.00.

Marzetti Trading Down 0.8%

Shares of MZTI stock opened at $112.53 on Friday. The company has a market cap of $3.07 billion, a P/E ratio of 16.14 and a beta of 0.32. The Marzetti Company has a fifty-two week low of $104.28 and a fifty-two week high of $186.95. The stock has a 50 day simple moving average of $111.95 and a two-hundred day simple moving average of $126.76. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.70 and a current ratio of 1.56.

Marzetti (NASDAQ:MZTI) last announced its quarterly earnings data on Tuesday, August 25th. The company reported $1.46 EPS for the quarter. The company had revenue of $465.03 million during the quarter. Marzetti had a net margin of 9.93% and a return on equity of 18.22%.

Marzetti Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, September 8th. Marzetti’s dividend payout ratio (DPR) is presently 62.60%.

Insider Buying and Selling

In other Marzetti news, insider Luis Viso sold 1,221 shares of Marzetti stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $109.31, for a total value of $133,467.51. Following the completion of the sale, the insider directly owned 1,924 shares of the company’s stock, valued at approximately $210,312.44. The trade was a 38.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 29.10% of the company’s stock.

Marzetti Company Profile

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.